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Benefits September 7, 2001
Bonuses, Options Slowing For Tech Workers
September 7, 2001 (PLANSPONSOR.com) Despite the
number of folding technology firms, information technology
(IT) workers continue to command premium pay, according to
the Computerworld Annual Salary Survey.
Reported by Nevin E. Adams
However, bonus programs have taken a hit, with half the respondent companies having frozen signing bonuses and stock options at previous levels. One in five have eliminated those benefits altogether.
Pay Hike
The survey of IT executives revealed a steady six percent increase over last years salaries, ranging from IT professionals in senior management to entry-level positions. That is considerably higher than the current rate of inflation and the four percent wage rate typically received by the average American worker, according to the survey.
The survey noted that the vast majority (80%) of IT managers have done away with quarterly and biannual salary reviews, returning to the traditional annual review in the wake of the slowing economy.
Non-Monetary Comp
Companies are increasingly reliant on “non-monetary compensation” as a reward. In fact, 70% listed “training” as their top perk.
IT managers responding to the survey noted that database administrators, network administrators, technical support personal and Web developers can expect to receive the largest wage hikes in the coming year.
Computerworld’s survey was mailed to IT executives across the United States in May and June of 2001. Five hundred and twenty-two IT executives responded to the survey, available online at www.computerworld.com/salarysurvey .
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